It’s time to lean back, relax and enjoy a little Joe …
Welcome to another exciting edition of Black Coffee, your off-beat weekly round-up of what is going on in the world of money and personal finances.
I hope everyone had a pleasant week. Let’s go this week’s comments without further delay …
Sneaky and lagging behind, the Fed has been sucking the life blood from the United States since 1913. Like a black widow spider, it weaves a web of corruption and deception. Unknown to his prey, the bite of the Fed is toxic, deep, long -term and brings financial unrest and misery to Americans.
– Jim McCarthy
Credits and depreciation
Credit: Have you seen this? There is a personal financial trend known as “No purchase 2025’Where individuals are committed to avoid non-essential purchases, they are furious in some circles. Yahoo! FinanceThe challenge is designed to “help people reset their spending habits, to get clarity about their financial priorities, to increase their savings without having to make huge sacrifices.” On the other hand, the available discretionary expenditure has gradually fallen for a long, long Time now …
Credit: While the No-buy challenge Helps you breaking long -term habits, such as reaching to your phone for shopping when you are bored, the primary advantage is to help people achieve larger financial goals, from paying off debts to buying a house. Unfortunately, it seems for nervous brokers that consumers cannot save fast enough …
Debit: On a somewhat related comment, the increase of 8.3% of May in the factory assignments of the American factory institutions was the second largest monthly leap in 69 years. It is therefore not surprising that the front running of May led to factory assignments in June 4.8% -Die follow-up is the largest decrease in the month-over month since the pandemic. The good news is that the stock market still in one way or another still-flirt with more all time …
Debit: In the meantime, the last job report that was released last Friday turned out not only weaker than expected recruitment -It also revealed some stunning downward revisions of previous data. As a result, many macro analysts have been delivered that the labor market loses steam faster than previously thought. For those who do not count at home, the US economy added only 73,000 jobs in July – that is far below 104,000 by economists. But even more surprising is that the figures from May and June jointly one supplementary 258,000 jobs, which mark the largest two -month downward revision since May 2020. Ouch.
Debit: Even more disturbing, that of the jobs that were Founded last month, was the government sector still responsible for 1 in every 9 New openings, despite the loss in the longer term on an annual basis of those jobs. Those jobs actually represent a net removal of the economy. In other words: those jobs act as a black hole that is used to consume tax money without an increase in the standard of living. And talked about powerful black holes …
Credit: In ander nieuws wees econoom Thomas Dilorenzo deze week erop dat: “Een consumentenmand met goederen die in 1790 verkopen in 1790 slechts iets meer kosten voor $ 108, dan zijn equivalent in 1913 – dat was het jaar van de oprichting van de Fed. Maar daarna zagen de prijs op, bereikt $ 2422222222222222222222e, maar heeft niet de Fed gemaakt, maar de Fed heeft the economy made, but the Fed has made the economy, but the Fed has made the economy, but has made the economy, but the Fed has made the economy, but the economy has the economy much more unstable And with more price inflation than before (it) existed. “Imagine that.
H/T: TF Metals Report
Debit: Dilorenzo offers a number of interesting trivia with regard to Fed Mismanagement on a related comment. He notes that “the FED spends $ 2.5 billion at his headquarters in Washington, DC – not for a new building, but for renovations of their already pale head office. To put this in perspective, the costs of building Trump Tower (Early eighties), adapted for inflation, was around $ 921 million. “And in the meantime, the Fed will continue to rely on an important tactic of the same playbook that the politicians in DC routinely use to keep taxpayers in the dark …
Debit: Of course, the falling value of the US Dollar (USD) is directly related to the American national debt spiral out of hand. The punchline is that there is nothing that the Fed can do about it – that’s why the Fiat – currencies of the world continue to buy the bleeding power. At the same time, central banks reduce their purchases from US Treasury (UST) bonds while they buy and hoard aggressive gold. This should also be an indication of investors that the long-term conviction that USTs are a ‘safe haven’ active is an illusion at best. In the worst case, it is a complete manufacture. The lesson here: sometimes things are not always What they seem …
Credit: It is no coincidence that, as macro analyst Jesse Columbo indicates, because the pandemic, central banks have considerable Their golden purchases performed Due to a dramatic increase of approximately double the annual average in the previous decade. Huh. It is almost as if the authorities whose primary company is based on the value of the currency they distribute are concerned about the continuous viability of their Fiat Monetary system.
Credit: The uncontrolled debt spiral is why gold is now clearly on its way to the road Restoring his previous role As the backbone of a new monetary system that could replace failing Fiat – currencies – as indicated by the furious price gains inflamed in March 2024. The good news is that the American congress has decided to be serious about its reckless expenses and the resulting debit of the US Dollar (USD) by determining a new $ 41.1 vibration debt ceremon. So that’s there.
Credit: For those who are still trying to find out what exactly is going on, the Bottom Line is that the migration from the world to gold means that the yellow metal should no longer be considered as only wealth insurance – it is also ready to be the basis of worldwide money. That’s because gold is honest money in an unfair system.
By the figures
A recent study calculated the average costs of a wedding in every state and corresponded to the average daily income of its citizens. Here are the ten states with the longest path to a fully funded wedding, based on how many days people have to work in each state to fully cover the costs of their wedding:
442 Massachusetts
457 New Hampshire
465 Maine
468 Delaware
484 Louisiana
486 South Carolina
578 New Jersey
579 Rhode Island
617 Vermont
879 Hawaii
Source: JJ’s house
The question of the week
Last week’s survey result
Are you fined financially than your parents?
More than 1700 Len Penzo Dot Com -readers answered last week’s question and it appears that 3 in 5 of you are better off than your parents. Let’s hope that many of your millennials or gene are Z – although based on last week’s answers, that is almost certainly not the case.
This week’s question was thanks to the reader Frankly. When You Have a question that you want to ask the readers here, send it to me Len@lenpenzo.com And make sure you place “question of the week” in the subject line.
Useless news: car problems
(H/T: Oscar)
Squirrel
This red squirrel was ready for his close-up (followed by a Superman audition) …
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More useless news
Here are the top – and below – five states in terms of the average number of pages that will be viewed here at Len Penzo Dot Com per visit in the last 30 days:
1. Kansas (5.00 pages/visit) (!!!!!)
2. West Virginia (4.00) (!!!!)
3. Connecticut (3.13) (!!!)
4. Kentucky (3.00) (!!)
5. Virginia (2.42)
46. Montana (1.48)
47. Iowa (1.45)
48. Colorado (1.43)
49. Arkansas (1.25)
50. Delaware (0.00) (!)
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Letters, I get letters
Every week I have the most interesting question or comment – assuming that I get one, that is. And people who are lucky to have the only question in the mail bag, get their letter here emphasized whether it is interesting or not! You can contact me at: Len@lenpenzo.com
After reading about the 10 worst things I’ve ever bought, Buy and hold for a long time wrote in to tell me this:
Some of these are pretty funny!
I’m glad you enjoyed it. Unfortunately for me they were not laughing cheaply.
If you enjoyed this edition of Black Coffee and found it informative, send it to your friends and family. Thank you! 😀
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